Should automaker loans become a bailout?
How much change does Barack really wantSo, Barack Obama wants the Energy Department to quickly provide the $25 billion in loans that automakers are to receive to help meet increased CAFE regulations because of tough financial times. Yet, such regulatory efforts, according to reports, often take 18 months or more to structure.
Lest we forget, these loans - which cost tax payers several billion to fund - were specifically created for fuel efficiency projects, such as new hybrid cars. They are not, as the auto industry reiterated numerous times, a bailout. Thus, how much can retooling a factory help today's bottom line for the Big 3?
More important, if rushed and loopholed, is not a bailout exactly what these loans are in danger of becoming? Should the US auto industry be bailed out at any cost? Is the Nationalization of the US auto industry inevitable?
Labels: barack obama, Congress, fuel economy, Hybrid Vehicles
posted by Dahcredyns at
12:01 AM
2 Comments:
one way or another nationalization is inevitable, especially if Obama wins. he's indicated he won't let any of the big 3 go under. those uaw votes are too important.
i'm going to vote for obama, but i think he's wrong on the auto industry. you can't forever protect auto jobs that are focused on building america-destroying gas guzzlers.
i want change. protecting the US auto industry isn't the change we need. it's the problem.
well, nationalization would be a change, right?
let's say the government did tell automakers that it wouldn't let them fail, but that the industry could only make vehicles that achieved at least 35 mpg in the city? maybe i could live with that sort of nationalization.
yeah, right. the us auto industry and the us economy are screwed. stupid is, stupid does.
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